WESTBRIDGE RNWBL ENRG CRP - WEGYF STOCK NEWS

Westbridge Renewable Energy (TSXV: WEB, OTCQX: WEGYF) has received approval from the Alberta Utilities Commission for its Dolcy Solar + Energy Storage Project. This marks the company's third Alberta project to obtain AUC approval. The Dolcy Project includes:

• A solar power plant with up to 300 MWac capacity
• Battery storage (BESS) with up to 200 MWh capacity
• The Dolcy 1148S Substation

Located in the Municipal District of Wainwright, Alberta, the project is expected to power over 72,000 Alberta homes once operational. Westbridge's COO, Maggie McKenna, highlighted the project's potential for clean energy production, agricultural productivity, and job creation through agrivoltaics. The company's international portfolio now includes more than 18 projects across four countries.

Westbridge Renewable Energy has provided a corporate update emphasizing several key achievements and future plans. The sale of the Georgetown project brought in over $40 million in non-dilutive cash, supporting global project expansion and capital return to shareholders. Management highlighted their recognition in the TSX Venture 50 and OTCQX Best 50 rankings.

The company has declared a cash distribution of C$0.10 per share and initiated a share repurchase program for up to 5% of its outstanding shares. Portfolio updates include significant progress on solar PV and BESS projects in Canada, the U.S., UK, and Italy. The Sunnynook project in Canada is expected to close in Q4 2024, with other projects following in 2025.

Westbridge has secured land rights for future projects expected to be shovel-ready by 2026 and 2027. The company is optimistic about the macro environment, with easing headwinds and increasing demand for clean energy boosting project economics and deal flow.

Westbridge Renewable Energy Corp. (TSXV: WEB, OTCQX: WEGYF, FRA: PUQ) has engaged Joshua Cohen of Westbury Capital Group and Paul Adams as investor relations advisors for a six-month initial term starting May 27, 2024. The services include corporate communications, shareholder engagement, news release drafting, and social media management. Each consultant will receive a monthly fee of $3,000 and 50,000 options with a $1.00 exercise price, valid until May 27, 2027. The agreements are subject to TSX Venture Exchange approval.

Westbridge Renewable Energy Corp. has announced a cash distribution of C$0.10 per share, following the conclusion of the Georgetown Solar Project. The distribution is aimed at rewarding shareholders and will be payable on June 21, 2024, to shareholders of record as of June 7, 2024. This distribution is classified as a return of capital, and shareholders are advised to seek independent tax advice. Westbridge is a pure-play Canadian solar development company with a portfolio of utility-scale solar PV projects in Canada, the U.S., the UK, and Europe. The company aims to deliver long-term returns through the development of renewable assets and has a strong track record with over 40 projects developed worldwide.

Westbridge Renewable Energy (WEGYF) initiates a normal course issuer bid program to repurchase up to 5% of its outstanding shares, aiming to enhance shareholder value.

Westbridge Renewable Energy Corporation (WEGYF) has achieved top rankings in the Clean Tech & Life Sciences sector by being named to the TSX Venture 50 for the second consecutive year. The company's market capitalization more than doubled, with a 95% share price appreciation in 2023. Westbridge's success is attributed to exceptional leadership and successful business plan execution, highlighted by significant deals and project developments.

Westbridge Renewable Energy Corp. (WEGYF) expands its portfolio into Europe with the origination of two new solar projects in Italy, Gierre Solare Project and NM Solare Project, with a projected capacity of 32MW Solar PV and 30MW, respectively. The company's CEO, Stefano Romanin, emphasizes the strategic expansion into Italy, a strong market with a favorable long-term outlook for renewable energy. The recent sale of Georgetown Solar has strengthened the company's capabilities to expand its project pipeline and fuel its growth strategy.

Westbridge Renewable Energy Corp. (WEGYF) has been ranked as the eleventh top performing company of the OTCQX and named to the 2024 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. The company's recent sale of the Georgetown project to Mytilineos added more than $40 Million CAD ($30M USD) in non-dilutive cash to the balance sheet, and the remaining Alberta projects continue to progress towards ready to build status. The company is entering 2024 with a strong balance sheet and an impressive North American portfolio and an active and growing international development pipeline.

Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) has closed the sale of its Vulcan County, Alberta solar power plant project with a capacity of up to 230MWac (278 MWdc) to a subsidiary of MYTILINEOS Energy & Metals. The company received C$47,564,002 at closing of the Transaction and continues to advance the projects of each of its other subsidiaries. MYTILINEOS paid 3% of the estimated base purchase price at signing and 92% of the estimated purchase price was paid at closing. The balance of the purchase price is expected to be paid when the Project reaches commercial operations.